Multiple Choice
If the equilibrium level of real GDP per year is greater than the full-employment level of GDP, then
A) a recessionary gap occurs.
B) the economy is at full employment with no price changes.
C) the economy expands the level of real GDP.
D) an inflationary gap occurs.
Correct Answer:
Verified
Correct Answer:
Verified
Q66: Refer to the above figure. Which of
Q67: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -The above figure
Q68: All of the following will shift the
Q69: The horizontal portion of the short-run aggregate
Q70: Suppose we observe the price level increasing
Q72: Which one of the following statements is
Q73: Why is persistent unemployment a possibility in
Q74: After some tornadoes in Alabama, unemployment is
Q75: Why is there NO persistent unemployment in
Q76: According to classical theory, desired saving always